Automate passport processing to verify identification faster
Ocrolus’ Human-in-the-Loop document automation solution captures and extracts data from passports, enabling you to verify IDs in real-time, process loans faster, and detect fraudulent applications.
Why should lenders use Ocrolus for passport data capture and processing?
Loan underwriters process passport data to verify a borrower’s identity. The layout and template for passports vary based on their country of origin, and passport data is often delivered in multiple file formats through different sources, such as email and mobile apps. This poses a challenge for traditional OCR solutions, and without a reliable intelligent document processing solution, lending professionals can spend hours manually processing passport data. This can also lead to human error, which further delays ID verification and loan approval.
Ocrolus’ automation solution lets you capture, review, and analyze passport data in real-time from passports delivered in multiple formats. It accurately captures key data and identifies potential fraud, enabling rapid, data-driven decisions.
Advantages of Ocrolus’ passport processing
Retrieve data from passports regardless of format or quality. With Ocrolus you can:
- Cut turnaround time
- Process multiple passports with over 99% accuracy/span>
- Quickly verify a customer’s identity
Ocrolus’ 2021 document processing stats
financial pages analyzed
documents flagged for suspicious activity
business loan applications analyzed